24 Apr 2023
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – April 24, 2023

Financial Reports, ,
Last week’s economic reporting included readings on home builder confidence and weekly reports on mortgage rates and jobless claims. NAHB: Home builder confidence increases in April The National Association of Home Builders reported that builder confidence in current housing market conditions rose by one point to an index reading of 45 in April. April’s reading was the fourth consecutive month showing increasing builder confidence.  The March and April index readings of 44 and 45 were the strongest since September 2022. A year ago the homebuilder confidence reading was 77. Component readings for homebuilder confidence in market conditions were mixed. Builder…
Read More
17 Apr 2023
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – April 17, 2022

Financial Reports, ,
Last week’s economic reporting included readings on inflation, retail sales, and consumer sentiment. Weekly readings on mortgage rates and jobless claims were also released. March Inflation Slows as Retail Sales Fall Inflation slowed to a month-to-month pace of 0.10 percent in March as compared to February’s reading of 0.40 percent growth. Year-over-year inflation rose by 5.00 percent and fell short of analysts’ expected reading of 5.10 percent year-over-year inflation and February’s year-over-year inflation rate of 6.00 percent. Core inflation, which excludes volatile readings for food and fuel, rose by 0.40 percent in March and matched analysts’ expectations.  The year-over-year reading…
Read More
10 Apr 2023
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – April 10, 2023

Financial Reports, ,
Last week's economic reporting included readings on construction spending and labor sector readings on employment and the national unemployment rate for March. Weekly readings on mortgage rates and jobless claims were also released. Commerce Department: February Construction Spending Falls The U.S. Commerce Department reported less construction spending in February than in January as construction spending fell by 0.10 percent to a year-over-year reading of $1.844 trillion for all types of construction. Year-over-year construction spending increased by 5.20 percent.  While total construction spending fell in February, residential construction spending increased. Spending on single-family home construction slowed due to builders’ concerns over…
Read More
03 Apr 2023
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – April 3, 2023

Financial Reports, ,
Last week’s economic reporting included readings on home prices, inflation, and pending home sales. Weekly readings on mortgage rates and jobless claims were also published. S&P Case-Shiller Home Price Indices Report Slower Home Price Growth in January Home price growth cooled in January according to S&P Case-Shiller’s 20-City Home Price Index. Home prices increased by 2.50 percent year-over-year in January but rose at a slower pace than December’s reading of 4.60 percent. The FHFA Home Price Index also showed slower growth in January with year-over-year home price growth of  5.30 percent as compared to December’s home price growth rate of…
Read More
27 Mar 2023
By Aadil Nathoo

What’s Ahead For Mortgage Rates This Week – March 27, 2023

Financial Reports, ,
Last week’s financial and economic reporting included readings on sales of new and previously-owned homes, along with weekly data on mortgage rates and jobless claims. Single-Family Home Sales Rise in February Year-over-year sales of previously owned homes rose 14.5 percent to a seasonally-adjusted pace of 4.58 million sales. Analysts expected 4.20 million sales of pre-owned homes as compared to January’s year-over-year reading of 4.0 million sales. February’s increased sales halted 12 months of falling sales of previously-owned homes. February’s reading marked the highest pace of sales since July 2020, when sales of pre-owned homes rose by 22.40 percent. The National…
Read More